Maybe this will shed some light on the matter:
When I installed Cakewalk Band lab, I chose NOT to install Melodyne because I already had Cakewalk Plat on my machine along with melodyne ASSISTANT installed (which is a step up from essential which commonly comes with both versions of cakewalk.
My Melodyne software either as a stand alone or vst within cakewalk bandlab works properly. It is when I drag a short audio clip from an audio track to a midi track - I used to do this all the time and it worked fine.
Since installing bandlab - it hangs?